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The Nigerian National Petroleum Company (NNPC) Limited is a state-owned oil company in Nigeria. Still a fully-owned government company, it was transformed from a corporation into a limited liability company in July 2022. [1] NNPC Limited is the only entity licensed to operate in the country's petroleum industry.
The history of oil exploration in Nigeria goes back to 1903, when the Nigerian Bitumen Corporation conducted exploratory work in the country. At the onset of World War I, the firm's operations were stopped. Due to lack of technological and financial resources of small oil companies, large and strong other oil companies took over the exploration ...
It monitors the oil and gas industry to ensure compliance with relevant regulations and laws. [1] It also oversees the safety and other regulations that relate to the exportation and importation of the products into the country. [2] As part of its activities, the department manages the upstream and downstream sectors in Nigeria petroleum ...
In 1971, the Nigerian National Oil Corporation (NNOC) was created to handle direct commercial operational activities in the oil industry on behalf of the Federal Government. [4] However, the Department of Petroleum Resources in the Federal Ministry of Mines and Power continued to exercise statutory supervision and control of the industry. In ...
ExxonMobil has offshore oil production in Nigeria, and is the country's second largest crude oil producer. [1] Mobil Producing Nigeria (MPN) began shallow water operations in 1955, and owns over 90 platforms and 300 producing wells covering 3,200 square kilometres (1,200 sq mi; 790,000 acres). [2] ExxonMobil also has deepwater production in ...
In November 2023, Aiteo achieved a significant landmark in the Nigerian oil and gas industry by introducing Nembe, a new crude oil grade, in partnership with the Nigerian National Petroleum Corporation (NNPC). [5] Nembe crude is characterized by its low sulphur content and reduced carbon footprint, attributed to the elimination of flare gas.
Mele Kolo Kyari OFR (born 8 January 1965) is a Nigerian geologist, crude oil marketer and 1st Group Chief executive officer (GCEO) of the Nigerian National Petroleum company limited (NNPC Limited). Before this appointment, Kyari was the Group General Manager, Crude Oil Marketing Division of the NNPC and the Nigerian National Representative at ...
Industry Revenue (US$ millions) Profits (US$ millions) 1 Nigeria National Petroleum: Oil and gas 9,706 1,877 2 Nigeria Liquefied Natural Gas: Oil and gas 6,315 ... 3 MTN Nigeria: Telecommunications 3,514 536 4 Dangote Cement: Cement 2,699 721 5 Nigerian Petroleum Development: Oil and gas 2,686 219 6 Flour Mills of Nigeria: Agroindustry 2,014 67 ...